MAXIMISE YOUR MONEY
SORTED MONEY MONTH
1 – 31 AUGUST 2023
Maximise your money in your 20s: 1 – 5 August
Day 2: Set goals and take control
While it may seem daunting, setting a goal and creating a budget is the key to unlocking your financial freedom. By living within your means and budgeting effectively, you can save for the future while enjoying your present lifestyle.
Challenge your savings habits with these useful tips from our professional financial advisers:
Just get started and set a property goal
Sometimes a saving goal can be overwhelming, especially when you are saving for a house, but rather than be put off by it, just get started and set a property or investment goal. Keep it manageable and just start small, it will still grow over time. While it may seem daunting, it’s about finding the balance between enjoying your present and securing your future.
Discover your money personality and take better control of your finances
Everyone has a money personality, so what’s yours? Take the quiz on sorted.org.nz: https://sorted.org.nz/tools/money-personality-quiz
This brand-new money personality quiz uses insights from research conducted by finance experts at AUT Business School, and is the first of its kind to identify the financial personality traits of Kiwis.
Personality traits can play a key role in determining your financial behaviours and outcomes and this awareness can help you take better control of your finances.
So what Kiwi money personality are you? The Contemporary, the Realist, the Minimalist, the Socialite or the Enterpriser?
Use a budgeting app and keep track of your expenses
While it may seem controlling, mundane and boring, creating a budget is the key to unlocking your financial freedom. By living within your means and budgeting effectively, you can save for the future while enjoying your present lifestyle. Use a budgeting app. One of the best uses of your phone is that you can keep track of your spending. Know where your money is going, and what you are spending on so that you can prioritize essential expenses, and allocate a portion of your income towards savings and investments.
Top tips contributed by:
Looking for expert help?
Search the Financial Advice Member Directory to find a quality financial adviser.